If you’re dreading the holidays because of finances, this post is for you. Debt often gets in the way and can leave little room for additional spending. Instead of looking for ways to make more money, you could look for ways to save more cash to pay off some debt.
Sometimes, options for extra savings are hiding right under our noses. Here are some places to look to save more cash:
Look at other utility companies
When living in a smaller area, it may feel like your choices for water and energy companies are limited; however, this is not always the case. Not to mention, the ones you see in ads the most do not necessarily offer the best prices. Take time to look at other companies. By making a simple phone call, you could save up to 30% by switching your water and energy companies.
Get rid of your LAN line
With the increased usage of cell phones over the years, the necessity of landline phones in the homes is decreasing. Ask yourself, is a LAN line really imperative to your daily living? If the answer is no, get rid of it. Cutting this can easily put an additional $15 to $30 back into your pockets.
Buy off-brand products
A generic product is one that does not advertise as aggressively as its main competitor. Many argue that there is a significant difference in quality from an off-brand item to the branded version. While this may be true in some cases, you have to really evaluate others and decide for yourself. To see what differences there may be, you could compare and contrast the ingredients lists of a grocery store item. If they are the same as the big name brand, the generic version may be the way to go. Ask your pharmacist about generic drug options as well. They are held to the same standards, but the off-brand prescriptions generally cost 20 to 80% less than the brand name version.
Doing this little task alone can save you at least $200 a month that you could put toward debt.
Make your own coffee
You can save more cash by skipping all those trips to the coffee shop and making your coffee at home. Sure, it’s nice to go out for coffee, but $3 and $4 lattes from Starbucks quickly adds up.
The same goes for your sodas. If you love soda, buy it in bulk at the grocery store instead of individually from a vending machine. Another option would be to cut back on your soda intake to save even more all together. In fact, it can cut your costs in half.
Shop just once a week
Save time and money on gas along with preventing items bulking up and going to waste by only going to the grocery store once a week. When you go multiple times in the week, you may end up purchasing more than you need. Make a list that the household contributes to each week so you are only buying what you need.
It is amazing how you can save more cash by doing these simple steps. And, these are just a few things you can do. By implementing one of the above tips now, you can start strengthening your current financial situation even more. Every extra dollar you put toward debt now is money you will have later.
What would you add to this list?